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69
What were the 2 problems facing farmers from 1864 to 1896?
1. Despite rising output, income growth slows
2. Adverse Terms of Trade (farmers had to produce 16% more output to maintain constant real income)
2. Adverse Terms of Trade (farmers had to produce 16% more output to maintain constant real income)
Flashcard info:
Author: savhighsmith
Main topic: Business Economics
Topic: History of Economics
School / Univ.: UGA
City: Athens
Published: 15.09.2010